Triad Wealth Partners LLC Invests $221,000 in Medtronic plc (NYSE:MDT)

Triad Wealth Partners LLC acquired a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,773 shares of the medical technology company’s stock, valued at approximately $221,000.

Other institutional investors have also modified their holdings of the company. Copley Financial Group Inc. purchased a new stake in shares of Medtronic during the 3rd quarter worth $694,000. Olstein Capital Management L.P. lifted its position in shares of Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC raised its stake in Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after acquiring an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares in the last quarter. Finally, Czech National Bank raised its stake in Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after acquiring an additional 16,786 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Trading Up 1.2 %

Shares of Medtronic stock opened at $94.15 on Thursday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $95.57. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company’s 50-day simple moving average is $87.82 and its 200-day simple moving average is $87.68. The firm has a market cap of $120.75 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Analysts Set New Price Targets

MDT has been the topic of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial cut their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $96.07.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.